The report on “Monitoring Armenia 's economic development” was prepared by AEPLAC former chief adviser Alexei Sekarev. The report provides a brief and rather informative description regarding the macroeconomic situation, the process of reform implementation and the recent developments in external financial assistance to the Republic of Armenia .

     The paper gives an overview of Armenia 's current economic development from the point of view of the implementation of the Partnership and Cooperation Agreement with European Communities and their Member States (PCA). It draws on the preliminary research results achieved in the framework of the preparation of the AEPLAC Benchmarking Report on the PCA implementation.

     The objective of this paper is to compare the European customs legislation with the customs legislation of the Republic of Armenia for PCA compliance and compatibility with international standards.

     AEPLAC benchmarking report introduces a system of measurement instruments, or benchmarks, to assess the progress Armenia has made in the implementation of the Partnership and Cooperation Agreement with the European Communities and their Member States (PCA).The framework of the Armenia-EU policy dialogue offers an appropriate opportunity to the PCA Parties to assess credibly and timely the progress in the PCA implementation against the benchmarks developed by AEPLAC. The system of the PCA benchmarks should thus be seen as a tool to estimate the current state and accelerate the PCA implementation by identifying further reform tasks for Armenia and, besides, priorities of bilateral cooperation.